Topic: Does Bitcoin need to be taxed? - page 4. (Read 1328 times)
I think there is no need to apply bitcoin tax. The difference between bitcoin and other currencies is that it is not taxed. That's good for bitcoin users. They do not have to pay any taxes when using bitcoin.
Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job?
I don't agree. Since your premise is the "need" of it being taxed. I think that there is no need to do that; however, what urges countries and governments to do that is the fact that the cryptocurrency market has been unfolding to be a big-earning market. At first, many are quite doubtful and negative about it, with some countries even threatening to ban any activity related to it. However, since the past year, there has been a great attention and focal shift to the cryptomarket that helped in introducing the advantages it can bring to the global trade and investment market scene. Having said, many countries are seizing the chance to strike while the iron is hot and try to impose taxes on it, or at least, in parts they can to add some revenue to their government to improve their local economies. As they say, the government in each country is the strongest and leading business entity, thus, finding ways to earn more is always their priority, which can be done through taxation.
If you ask me, I would not pay taxes for that. Yet Still, governments want to earn from everything,
so sooner or later we have to pay for that.
so sooner or later we have to pay for that.
in my opinion taxation is the key to btc wide application and regulations.
the governments just want to make sure they have got all the necessary tools to tax it, once it is done, btc will be legislated and regulated.
If they are not taxing it right now then why should they taxed it in the future?
It depends on the country you live in and the rules set in place but i honestly feel like governments should not be involved in this and they should just stick to taxing conventional money.
I am inclined to agree to charge me for my income from Bitcoin`s.
If the government approves this type of currency and does not consider it illegal.
So both sides will be happy
If the government approves this type of currency and does not consider it illegal.
So both sides will be happy
No, bitcoin doesnt need to be taxed. It has been operating for quite some time. It was indeed very succesful and has helped millions of people earned big. So why it has to be taxed if it has already been working for a lot of people and it is proven to be a blessing to a lot of people without taxes. If sooner it will be taxed then it would not be favorable to us.
I think there is no need to be taxed because Bitcoin is decentralized and it's an online currency.
Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job?
Bitcoins does not need to be taxed. It's open-source. Literally, no one owns bitcoins. No government nor country has the authority to tax bitcoins because it is owned by everyone. I think the only thing the government can tax is the fiat money equivaleny when bitcoins are exchanged.
Of course it does not have to be taxed. But the greed of some weak and oppressive governments will cause the BTC and other crypto investments to pay taxes in some way.
The question is not about bitcoin needed to be taxed but does the government badly want extra income for economic and financial stability.. I won’t be surprised it will always be the used reason of government officials to do such act and to oppress the investors and bitcoin users.. I hope that any regulation will be fairly be managed for both parties involved..
I dont think it is a good idea that bitcoin be taxed, and used to be one of the source of funds in the community. somehow it is a burden to all bitcoiners at some part nay be a deduction, but still it depends to ruling country if they would tax or not.
Yup! It could become a source of income but I think it doesn't need to be taxed. I disagree to its taxation not because of being a greedy person or whatsoever.
in my own perspective, bitcoin or any cryptocurrency shouldn't need to be taxed at all because if it has been taxed by our government, it seems that we're now permitting them to influence and control it which I (We) don't want to happen. Besides, where is the sense of decentralization if someone controls it, right?
in my own perspective, bitcoin or any cryptocurrency shouldn't need to be taxed at all because if it has been taxed by our government, it seems that we're now permitting them to influence and control it which I (We) don't want to happen. Besides, where is the sense of decentralization if someone controls it, right?
Just like Stocks and any other speculative investments, bitcoin is should also be taxed,on eh short terms gains
Any state has the right to tax any activity of its citizens, which brings a certain income. Since operations with the crypto currency are profitable for its owner, the state has the right to tax this activity with a tax. Many states already impose such a tax, including a country as loyal to the crypto-currency as Japan. Almost all countries in the near future will tax the activities related to the crypto currency.
Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job?
i think it does because it is a form of stock, or an investment and it might help alleviate the high transaction costs when it becomes regulated as a form of compromise. BEcause I think yhat if it gets tax and transaction fees are high then bitcoin will collapse
Yes I think btc need to be taxed because it is an income source, but it depends on rules in your country.
If bitcoin will be considered to be a legal tender I guess it is just and right to imposed tax on any income out of bitcoin but since at this moment it is not control or regulated by laws and government putting tax is not a fair thing besides whenever we use our income to buy things there is already VAT so for me no need for bitcoin to be taxed
It’s not considered a legal tender in most countries though it’s considered an asset or more like a stock market investment In my country it is not the bitcoin thta is being taxed and regulated by the Central Bank, it is the company or the businesa that accepts bitcoin as payment. The central bank regulates it for the purpose of avoiding irregulailrities in terms of legality. In my personal opinion I wouldn't want bitcoin to be taxed because it will set limitations in the industry, btc is created and deaigned as decentralized cryptocurtency. If it will be tax imposed there is a chance that it will be abused and can affect our btc earnings.
Which country is that? Seems like a good country if they recognise cryptocurrency as a currency instead of just fuding on cryptocurrency like other countries Jump to: